(a) Except as provided in subsection (b) of this section, the corporation is dissolved on the later of: (1) The time the Department accepts the articles of dissolution for record; or (2) The time established under the articles, not to exceed 30 days after the articles are accepted for record. (b) The corporation continues to exist for the purpose of paying, satisfying, and discharging any existing debts or obligations, collecting and distributing its assets, and doing all other acts required to liquidate and wind up its business and affairs.
Maryland Legal Code